Tenaris (NYSE:TS) Downgraded to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Tenaris (NYSE:TSFree Report) from a strong-buy rating to a hold rating in a report published on Monday morning,Zacks.com reports.

TS has been the subject of several other research reports. Weiss Ratings cut shares of Tenaris from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. TD Cowen lifted their price objective on shares of Tenaris from $67.00 to $68.00 and gave the company a “buy” rating in a report on Friday. Piper Sandler boosted their price objective on shares of Tenaris from $56.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, May 18th. Morgan Stanley raised shares of Tenaris from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $53.00 to $65.00 in a research note on Wednesday, July 15th. Finally, Wall Street Zen upgraded Tenaris from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Tenaris presently has a consensus rating of “Hold” and a consensus price target of $63.28.

Check Out Our Latest Analysis on Tenaris

Tenaris Price Performance

TS stock opened at $53.42 on Monday. Tenaris has a 1-year low of $33.65 and a 1-year high of $64.60. The business has a 50-day moving average price of $57.29 and a 200 day moving average price of $56.39. The company has a market capitalization of $28.63 billion, a P/E ratio of 14.28, a PEG ratio of 1.29 and a beta of 0.85.

Tenaris (NYSE:TSGet Free Report) last issued its earnings results on Wednesday, August 5th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.16. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Tenaris had a net margin of 15.88% and a return on equity of 11.15%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 EPS. On average, analysts anticipate that Tenaris will post 3.75 earnings per share for the current fiscal year.

Institutional Trading of Tenaris

Institutional investors have recently modified their holdings of the company. Advisory Services Network LLC purchased a new position in shares of Tenaris in the 3rd quarter worth approximately $47,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Tenaris during the fourth quarter valued at approximately $48,000. Raymond James Financial Inc. purchased a new stake in Tenaris during the second quarter valued at approximately $49,000. Global Retirement Partners LLC boosted its stake in Tenaris by 1,066.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,505 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 1,376 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in Tenaris by 4,675.8% in the fourth quarter. TD Private Client Wealth LLC now owns 1,576 shares of the industrial products company’s stock valued at $61,000 after acquiring an additional 1,543 shares in the last quarter. 10.45% of the stock is currently owned by institutional investors.

Tenaris Company Profile

(Get Free Report)

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.

Further Reading

Analyst Recommendations for Tenaris (NYSE:TS)

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